While most of the major gold miners have started moving up in response rising gold prices over the last year, Newmont Mining (NYSE:NEM) is among the top gold miners among the majors, and holds its own against a lot of their smaller competitors as well, even when measuring by percentage of moving up in price.
Gold miners in general had been slow to move up with gold prices, lagging the market significantly, but that all has changed, and Newmont has experienced that change as well as any of the majors, up by over 23 percent for 2010 so far, and way more when you take them back 12 months.
The giant gold mining company, and its shareholders, have enjoyed record cash flow and earnings this year, and isn't that far off from its record high of $62.72. A number of analysts believe over the next year they'll reach $70 a share, shattering the former high if they attain that level of price.
Newmont is a well run gold miner who has started to finally catch up with the price of gold, and with the economic conditions we face, should do very well for investors over the next couple of years.
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